Peter Dutton says Jim Chalmers can’t decide whether to fight inflation or stimulate growth.
Jim Chalmers has warned struggling households there will be minimal cost of living assistance in the May budget as he strives to land a second successive budget surplus and wind back the fight against inflation in preparation to stimulate growth.
“But it means more in the lead-up to budget and less on budget night, and it means we have to find room for it all at the same time as we seek to land a second surplus.”Dr Chalmers said while there would be additional cost of living help in the budget “it won’t be anywhere near the magnitude of the tax cuts”.
Dr Chalmers warned a fall in the iron ore price and softening labour market meant the four-year, $69 billion revenue windfall forecast in the December mid-year budget update would be much less than that.
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